Industrial real estate developer Vesta to open US$300 million aerospace park in Queretaro
Due to the fact that the Queretaro Aerospace Park is occupied at its maximum capacity, the industrial developer Vesta is in the final preparations for the opening of a new industrial complex to meet the demand, said its regional director, Francisco Estrada, in an interview to El Financiero.
Located in the immediate area of the Intercontinental Airport of Queretaro (AIQ), the Queretaro Aerospace Park was built more than 12 years ago, in an area of 96 hectares in which 200,000 square meters have been developed.
Only Bombardier has a territorial reserve that could allow it to grow 40,000 square meters. However, for the aerospace supply chain the park is already “practically saturated”, said Estrada, interviewed during the 2018 edition of Mexico’s Aerospace Summit organized by MexicoNow.
In this park French manufacturer Safran Grooup has four plants and is developing one more, its seventh facility in the country, a project whose reach, agreements and conditions are barely defined, and whose investment amount will be announced soon. In total, the park houses seven companies.
To continue meeting the demand, Vesta is about to complete the construction of Vesta Park Queretaro in the municipality of Colón, which is a 102-hectare project that will allow the development of around 400,000 square meters with the highest international quality standards in infrastructure.
“We just finished the first two buildings, one of 50,000 meters and another of 23,000 meters that is ready for rent and we are about to sign the first contracts, which will allow us to develop more buildings,” he said.
Estrada sees with good eyes the recovery in industrial activity that is observed in the first weeks of the second semester, with the activation of projects that were halted.
The Vesta Park Queretaro will be inaugurated in the following weeks with capacity to house 45 companies with high added value, in a total of 22 buildings.
In this complex an investment of US$300 million is applied, of which they have already invested US$50 million in infrastructure.
“Due to the infrastructure we are offering, we will also be an option to attract large-scale investment projects,” explained Estrada.